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IPOs are hot in Silicon Valley. SPACs are even hotter FacebookTwitterEmail 1of5 Paw Andersen is chief technology officer of Metromile. The San Francisco auto insurer has agreed to become publicly traded through a deal known as a SPAC, or special purpose acquisition company.Paul Kuroda / Special to The ChronicleShow MoreShow Less 2of5 Virgin Galactic is merging with Social Capital Hedosophia, whose CEO, Chamath Palihapitiya, will become chairman of the combined entity.Matt Hartman / Associated Press 2018Show MoreShow Less 3of5 Andersen joined Metromile last year from Uber. The company charges customers based on miles driven.Paul Kuroda / Special to The ChronicleShow MoreShow Less ....